Agent Provocateur has appointed Fabrizio Malverdi as its new Chief Executive with immediate effect.
Malverdi has over 15 years’ experience leading luxury retail businesses, most recently holding CEO roles at a number of leading brands within the LVMH Group. Malverdi is an Italian national who has been based in Paris since 2006.
Prior to joining AP, he was Managing Director of Dior Homme, of Christian Dior Couture and before that, served as CEO of John Galliano SA, after a stint as CEO and President of Givenchy.
Malverdi began his career in Italy working with brands including Vivienne Westwood, Martin Margiela and Calvin Klein Collection.
Malverdi said he was looking forward to be joining “a very successful business with a unique heritage” and “working with the existing management team to lead Agent Provocateur in the next phase of its growth, consolidating its position as a key player in the luxury fashion sector.”
Agent Provocateur is owned by private equity group 3i which had been considering a sale for the lingerie specialist.
Chairman Chris Woodhouse hinted at this when ex-CEO Garry Hogarth stepped down in February. “It would be reasonable to expect that whoever takes it on will be with 3i during the next phase, but we won’t be selling any time soon and certainly not this year,” he said at the time.
Hogarth left Agent Provocateur after almost a decade with the lingerie retailer, following a £727,000 review by Goldman Sachs.
But earlier this month a source told WWD that 3i “concluded there is still lots of growth to be had, and there are no immediate plans to sell.”